Market ValuationVRE currently trades at a significant discount to the NAV estimate, which may reflect market concerns.
Price Target And Market ConcernsThe price target is lowered to $15 due to assumptions of a lower target FFO multiple amid sluggish job growth and elevated macroeconomic uncertainty.
Takeover Premium ImpactThe return mismatch reduces the likelihood of a near- to medium-term takeout, leading to the removal of the takeover premium from the valuation methodology.